In total, the contract is worth 3.1 billion euros. These include filling stations in Belgium and Luxembourg, where Couche-Tard operates 60 percent of its operations.
The reason TotalEnergies is selling the filling stations is because of the EU’s climate objectives. For example, sales of new cars with conventional combustion engines will be restricted from 2035. Total Energies has already seen a decline in fuel sales as electric car owners charge their vehicles at home or at work.
That’s why TotalEnergies turned to Couche-Tard. The Canadian company has experience operating stores next to gas stations. According to TotalEnergies, this will help fuel stations in the future become places where people come for more than just fuel.
Another factor is TotalEnergies’ goal of reducing sales of petroleum products by 30 percent by 2030. With this, the company wants to reduce its carbon footprint. In that context, TotalEnergies has already disposed of filling stations in Italy, Switzerland and the United Kingdom since 2015.
